Guo Guangchang is a Chinese billionaire investor and chairman of Fosun International Limited, an investment firm with high-profiled assets worldwide. It's only natural that when he discusses the state of the global economy, people tend to listen.
The Wall Street Journal reported that during Fosun's annual meeting, Guanchang said global asset prices, "especially in the U.S.," are rising "quite rapidly." He further stated that now is not the best time to search for overseas acquisitions.
"In the past, we have been mostly bulking up and gaining muscle," The Wall Street Journal quoted Guangchang as saying. "Now we are starting to promote blood circulation and better energy flows."
Guangchang continued that his investment firm is now focusing on developing markets, including Russia, India and Brazil.
The investment firm recently pulled out of a major deal to acquire an Israel-based insurer for $461 million, but Fosun's CEO Liang Xinjun told media members that it may announced another deal in Israel soon.
Finally, Guangchang stated that his investment firm has an ultimate goal of growing its value by ten-fold within the next five to 10 years.
"If I can live till 90 years old, the total value of our company would at least match that of Warren Buffett's company," he also said.
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